All Forum Posts by: Jeff D.

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I have this seller financing deal right now with me putting ~30% down.  Solid Class B- 5 units all 1 bedroom. 4 units at market rate-One I can update and get another $200 a month (maybe $300). The building and the mechanics are very well maintained.  Heat included w/rents (2 year high efficiency boiler) Roof is two years old.  All tenants have been paying rents through Covid. What are your thoughts?

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@Benjamin A Ersing I've been looking at Agronosotros for a few years now.  Haven't done anything.  Have you looked at them?  My wife and I were going to go on a discovery trip with The Real Estate Guys last year.  Things came up and we decided not to go.  

@Matt Vaughn I agree.  Mike Lambert seems to know great deal about foreign investing down there.  My first visit there was back in 2012.  The dollar was worth 7 pesos.  I think it's around 65 today...

@Mike Lambert I agree with every observation you made.  I've been to Argentina half a dozen times or so.  My wife is from the city of Jujuy in the northern province of Jujuy.  I didn't care for Buenos Aires at all.  The city of Jujuy in Jujuy province is located in the very north of Argentina.  I was impressed with the day trip excursions that were available there for dirt cheap.  With just a few hours drive in any direction outside the city you could experience vastly different climates and geography.  We were thinking of tapping into these excursions and tagging onto the existing touristy market towns of Pumamarca and Tilcara.  Then marketing our own excursions via our hotel (I.e. investment) to mainly North Americans and Europeans.  

What are your thoughts on Panama or Belize?  I'm been tempted to take one of those real estate exploritory trips to both.  

@Brian Ploszay  I have yet to visit Mendoza but I too have a friend from there and he has a AirBnb.  He is doing ok with it but I don't think he really markets it really well.  Mendoza is the Napa Valley of Argentina.  I'd be taking advantage of that.

@Matt Vaughn  I realized I should of posted my question in the international investing forum after I posted it.  Anyhow, I'm glad you commented. 

I too have looked in Salta.  I've flew into Salta a few times and my wife has family there.  Her family has an AirBnb in San Salvador (1 hour north of Salta).  I like that area best of all because of it's proximity to the Bolivian border and the city is nestled at the foot of the most beautiful mountain ranges I have ever seen.  Route 9 has many touristy stops and is the main road to take the north land during Carnival, which is heavily celebrated in many of the small towns I mentioned in my post.   Why were you thinking Argentina? 

Anyone have real estate investments in Argentina? If so, how you feeling about them? The fragile economy scares me a bit. Since I have been visiting the country 2012, the peso has gone from 7 pesos per dollar to around 65 pesos per dollar today. I have been looking at touristy areas: Tilcara, Pumamarca and Mendoza.

@Nick B. Good question.  I'm curious what the all of motives are for the sellers right now.

I would make no concession on rent.  Maybe share the cost of any products needed to install the common area garden.  KEEP IN MIND-If your turning an area that needs zero maintenance into an area that needs constant maintenance-regardless if the tenants good intentions , this area will always need maintenance in the future.  What happens if tenant loses interest?  They move out?  What will happen to this space? 

I used to be on a facilities planning board for a museum.  They had a donor that wanted to pay to have a perennial garden installed by a professional landscape company.  The proposed drawing was beautiful.  Despite the good intentions and my warning of future costs to maintain to the committee, it was passed and the install happened.  The first year it was beautiful and the grounds company didn't have to do much to maintain it.  The following year the contract to take care of the grounds received an addendum increased of $1200 to maintain this bed.  They museum didn't want to pay (they couldn't really) and decided to rely on some volunteer members that wanted the bed to stay.  A year after that it was a mess.  Overgrown, the black-eyed-Susan and purple cone flowers that didn't get deadheaded in time took over everything.  A year after that they paid the landscape company to return the bed to a grass area.  The bottom line is- there is a cost to beautiful landscapes and gardens not everyone knows how to consider.

@Account Closed Ha! Well, I guess I could be dragging my feet. That's subjective though. I don't want a 2% CCR out of the gate on a purchase. Some of these deals I've seen close in Buffalo make me scratch my head. I'm still learning this whole deal finding situation though and I admit, this is my weakness.